PA Tax Credit Program

What are EITC and OSTC?

Contributions made through the Educational Improvement Tax Credit (EITC) provide financial aid to students living in low-income households who attend an eligible scholarship organization, like Episcopal.

Contributions made through the Opportunity Scholarship Tax Credit (OSTC) program support Episcopal students from low-income households who live in neighborhoods with low-achieving public schools (bottom 15% in Pennsylvania).

When an approved individual or business agrees to participate in the program for two consecutive tax years, they may be eligible for a tax credit equal to 90% of the total contribution.

How do I participate?

1. Contact Leadership Giving Officer Suzanne Schaffer (sschaffer@episcopalacademy.org or 484-424-1776) to discuss avenues of participation. For more information, please review our Ways to Participate Summary.
2. Qualified individuals participate through a Special Purpose Entity (SPE) established on behalf of Episcopal. Therefore, interested individuals should be prepared to sign a joinder committing to participation. Contributions to SPEs are made in the fall of each year. For more information on our SPEs, please review our one-page overview.
3. New businesses applying for tax year 2023 must submit an electronic application on July 1, 2023. Applications are approved on a first-come, first-serve basis and contributions must be made within 60 days of receipt of state approval. EA can assist with all applications.
4. Renewal applications for business participants who made a two-year commitment are accepted beginning on May 16, 2023 and contributions must be made within 60 days of receipt of state approval. EA can assist with all applications.

    

Who is eligible?

Individuals may participate through inclusion in a Special Purpose Entity (SPE), which have been established on behalf of EA community members.

Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:

• Personal Income Tax
• Capital Stock/Foreign Franchise Tax
• Corporate Net Income Tax
• Bank Shares Tax
• Title Insurance & Trust Company Shares Tax
• Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
• Mutual Thrift Tax
• Malt Beverage Tax
• Retaliatory Fees under section 212 of the Insurance Company Law of 1921

Learn more about EITC & OSTC

The following resources may help in the application process. If you have any questions, please contact Suzanne Schaffer at 484-424-1776 or sschaffer@episcopalacademy.org.

• SPE Participation
• EITC & OSTC Ways to Participate Summary
• Department of Community and Economic Development (DCED)

Dear Parents, Alumni and Friends,

The Episcopal Academy was approved, once again to receive gifts through the EITC (Educational Improvement Tax Credit) and OSTC (Opportunity Scholarship Tax Credit) programs for this academic year. Through these programs, you as an individual, and/or your business can earn State tax credits while changing kids’ lives. The gifts EA receives bolster our financial aid budget, allowing us to extend aid to students with the greatest financial need and giving us the ability to build a phenomenal student body.

As an educator, a parent, and now, a program participant, I am excited by the opportunities these programs provide our students.

Thank you for your consideration and your ongoing commitment to Episcopal!

Warmly,

Dr. T.J. Locke